TOWN OF MONTGOMERY – Town of Montgomery leaders recently released new economic policy updates, striving to listen more to residents and attract development beyond increasingly common warehouses.
The changes came in the form of a new Uniform Tax Exemption Policy or UTEP for the Montgomery Industrial Development Agency.
IDAs are independent, nonprofit public benefit corporations, representing municipalities and counties – Montgomery’s IDA members are appointed the town board – throughout the state.
IDA boards, often local businesspeople and influential community members, vote on offering economic incentives like tax breaks or like payment in lieu of tax agreements to create jobs and keep and entice businesses.